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Oak Brook

    Trainee Cost Estimator - Oak Brook, United States - Nexus Engineering Group Inc

    Nexus Engineering Group Inc
    Nexus Engineering Group Inc Oak Brook, United States

    3 weeks ago

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    Description
    Purpose:
    The Trainee Project Cost Estimator is responsible for supporting the development of accurate and timely cost estimates for projects at various FEL stages. This role plays a crucial part in the financial planning and analysis of engineering projects, ensuring that cost estimates reflect the scope, schedule, and resource requirements of projects accurately. The Trainee Estimator will work closely with project managers, engineers, and the finance team to contribute to the successful financial execution of projects.

    Accountabilities:
    • Support the preparation of detailed cost estimates at various FEL stages, ensuring they are comprehensive, accurate, and aligned with project objectives.
    • Assist in analyzing project specifications, scopes of work, and other documentation to prepare time, cost, materials, and labor estimates.
    • Collaborate with project teams to gather necessary information for cost estimation purposes.
    • Contribute to the continuous improvement of cost estimating tools, techniques, and procedures.
    Key Responsibilities:
    • Cost Estimation: Assist in the development of cost estimates for projects at different FEL stages, including conceptual, preliminary, and detailed estimates. Utilize cost estimating software and methodologies to ensure accuracy and reliability of estimates.
    • Data Analysis and Reporting: Analyze historical cost data and project-specific information to support accurate estimates. Prepare reports and presentations that summarize the cost estimates, including assumptions, methodologies, and risks.
    • Collaboration: Work closely with project managers, engineers, procurement specialists, and other stakeholders to ensure that all aspects of the project are considered in the cost estimates. Participate in meetings and discussions to refine project scopes and cost estimates.
    • Documentation: Maintain comprehensive records of estimates, including the basis of estimates, supporting documentation, and revisions. Ensure transparency and traceability of cost estimation processes.
    • Continuous Improvement: Participate in the review of completed projects to compare estimated costs with actual costs and identify areas for improvement in the cost estimating process.
    Experience and Expertise:
    • Bachelor's degree in Engineering, Construction Management, Finance, or a related field.
    • 0-2 years of experience in cost estimation, preferably within the engineering, construction, or manufacturing industries.
    • Familiarity with cost estimating software (e.g., CostX, Timberline, or similar) and Microsoft Office Suite.
    • Basic understanding of engineering principles, project management practices, and financial analysis.
    • Strong analytical and mathematical skills, with attention to detail.
    • Excellent communication and interpersonal skills, capable of working collaboratively with cross-functional teams.
    Key Relationships:
    • Project Management Team: Collaborate with project managers to understand project scopes and requirements, ensuring cost estimates align with project plans.
    • Engineering and Technical Teams: Work with engineers and technical experts to ensure that cost estimates accurately reflect technical specifications and requirements.
    • Finance and Procurement Teams: Coordinate with finance to ensure cost estimates are aligned with budgetary constraints and procurement for vendor quotes and material costs.
    • Senior Estimators and Management: Report to more senior estimators and management, seeking guidance and feedback to refine estimating skills and contribute to strategic planning efforts.
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